While unfortunately I don´t have any good input for you, I have to say that this reminds me of one of the BP podcasts; someone recounted a story where their 2 local roofing options turned out to be owned by a father and son, where they significantly overbid one price and still overbid the lower one, but in comparison the lower bid looked much more attractive.

It will attract renters.   

I think it’s a combination of several factors: The subject property is not that attractive to some of the buyers.

At least in my market a 4 bed attracts two families.

My personal opinion is that Gatlinburg has more year-round attraction.

I do not believe it is.The attraction to investing in real estate is the perception that it is relatively low risk/high profit. 

Hello Rich,i do not have a fraction of your experience but i've come to the same conclusion you made; As foreclosures are becoming rarer and selling at above reasonable prices, construction is becoming more and more attractive.

It will increase the loan amount and make it more attractive to Lenders.

The incentive for gentrifying the C locations around our city is one of the most attractive thoughts for me.

But in most cases that cash in hand and one loan, one payment based off of a 30 year fixed rate seems more attractive.